Wire · operational-macro
No charges on UPI transactions up to Rs 2,000
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Fusion42 · 15 September 2026 · Fusion42 review
The Indian government has mandated that banks and payment system providers cannot charge fees on UPI transactions up to Rs 2,000 or payments made via RuPay debit cards, following an amendment to the Payment and Settlement Systems Act. Charges for transactions above Rs 2,000 may be imposed on merchants to support system upgrades, cybersecurity, and market expansion.
This Wire brief sits within Fusion42's coverage of Fintech, and 4 sources have reported it between 14 Sep 2026 and 15 Sep 2026.
◆ ◆ The Wire takeaway
You can continue offering no-fee UPI payments under Rs 2,000, but expect merchants paying fees on higher transactions soon. This shift means fintech founders targeting merchant services must rethink pricing and customer acquisition strategies in India.
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4 sources · first reported 14 Sep 2026 · latest 15 Sep 2026
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